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The switch is more than a mere name change, as traditional 401(k) and Roth IRA accounts are very different retirement vehicles with distinctly different tax advantages and considerations.
Fortune sat down with Benna to discuss how the 401(k) has evolved since it became mainstream in the 1980s, the death of pensions, who the plan works best for, and the future of retirement in the U.S..
If you assume the 401(k) is the entirety of someone’s retirement savings, a balance of $555,621 at age 65 when they retire would give them around $22,000 in annual income in the first year.
Popular, Inc., doing business as Banco Popular in Puerto Rico and the Virgin Islands and as Popular Bank in the mainland United States, is a financial services conglomerate that has operated in Puerto Rico for over 125 years and in the mainland United States for over 52 years. In recent years, it has expanded into other areas of the Caribbean ...
Description. BPPR Popular logo.svg. The logo of Popular, Inc. – bank based in Puerto Rico. Date. 8 March 2007. Source. Converted to SVG by User:Closeapple using PDF2SVG (also described at [1]) and given 1% internal margin using Inkscape. 2006 annual report (PDF). Popular ( 2007-03-08 ). Retrieved on 2007-11-22.
Rafael Carrión Sr. Rafael Carrión Sr. (January 3, 1891 – March 26, 1964), the patriarch of one of Puerto Rico's financial dynasties, was one of the founding fathers [1] [2] of Banco Popular de Puerto Rico, the largest bank in Puerto Rico and the largest Hispanic bank in the United States. [3]
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